Saturday, 25 June 2022 | The Latest Buzz for the Appraisal Industry

Refinancing Rate Locks Fall to a 20 Percent Share

Black Knight says the steep ascent of mortgage rates , the 30-year conforming jumped 63 basis points in April, was matched by a sharp drop in rate lock activity. Overall volumes were down 20 percent from March, driven by a 50 percent decline in rate/term refinance activity. Cash-out refinancing fared little better. Homeowners appear unwilling to sacrifice their record-low rate existing first mortgages, seeking instead to access equity by way of home equity lines or

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